dc.contributor.author | Nordås, Hildegunn Kyvik | |
dc.date.accessioned | 2008-03-03T13:00:31Z | |
dc.date.accessioned | 2017-03-29T09:12:29Z | |
dc.date.available | 2008-03-03T13:00:31Z | |
dc.date.available | 2017-03-29T09:12:29Z | |
dc.date.issued | 1997 | |
dc.identifier.issn | 0804-3639 | |
dc.identifier.uri | http://hdl.handle.net/11250/2435849 | |
dc.description.abstract | This paper introduces endogenous adoption costs for productive assets in a Ramsey type growth model with international capital flows. There are two c1asses of productive assets: owner-specific and location-specific. Adoption costs are an increasing function of the level of technology embodied in the investor's owner-specific assets and a dec1ining function of the host country's location-specific assets. In this setting the return to capital is low in capital-poor countries. Consequently, they receive small amounts of foreign investments. Further, even though capital flows from North are spread evenly across industries in the South, the relative importance of high-technology industries is small in terms of output. | |
dc.language.iso | eng | |
dc.publisher | Chr. Michelsen Institute | |
dc.relation.ispartofseries | CMI Working paper | |
dc.relation.ispartofseries | WP 1997: 18 | |
dc.subject | International capital flows | |
dc.subject | Economic growth | |
dc.subject | Industrial structure | |
dc.title | Some reasons why capital does not flow from rich to poor countries | |
dc.type | Working paper | |